Local shares weighed down by miners

Australian stocks finished slightly lower as weakness among the major resources companies outweighed optimism in the US.

At close on Monday, the benchmark S&P/ASX200 index was 6.5 points, or 0.14 per cent lower at 4,717.3, while the broader All Ordinaries index was down 4.8 points, or 0.1 per cent, at 4,738.1.On the ASX 24, the March share price index futures contract was 13 points lower at 4,692, with 21,347 contracts traded.

CommSec market analyst Juliette Saly said the local market failed to follow the US as local resources companies struggled following falls on the London Metals Exchange.

‘‘We’ve again seen very low volumes and not a lot of action on the local market,’’ Ms Saly said.